By Wendy Van Sickle
Columbus, Ohio, July 20 – JPMorgan Chase Financial Co. LLC priced $1.6 million of autocallable contingent interest notes due July 23, 2019 linked to least performing of the common stocks of Wells Fargo & Co., Citigroup Inc. and Bank of America Corp., according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes pay a contingent coupon at an annual rate of 9% if each stock closes at or above its trigger value, 70% of its initial share price, on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any review date other than the first and final review dates.
The payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will be fully exposed to the decline of the worst-performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Wells Fargo & Co., Citigroup Inc. and Bank of America Corp.
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| Amount: | $1.6 million
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| Maturity: | July 23, 2019
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| Coupon: | 9% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of worst-performing stock from initial share price
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any quarterly review date other than first and final review dates
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| Initial share prices: | $23.90 for BofA, $66.89 for Citigroup and $54.80 for Wells Fargo
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| Trigger values: | $16.73 for BofA, $46.823 for Citigroup and $38.36 for Wells Fargo, or 70% of initial share prices
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| Pricing date: | July 18
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| Settlement date: | July 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 46647MYK3
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